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March 2020 Newsletter

Posted by on March 1, 2020 in Newsletters

Dear Valued Clients and Associates, The Spring Equinox is March 19; a time of renewal, it is the day of the year that light and dark are balanced. Symbolizing a time of regrowth and rebirth, it is a great time of year to regroup and re-prioritize! From spring cleaning to religious ceremonies and rituals, how do you welcome the longer, warmer days to come? Would you like to discuss your company’s group insurance options? Interested in assistance navigating the available employee benefits options? We have been working with businesses for over 20 years and hold a 98% retention rate! If you’d like to learn how we can help you reach your employee benefits and compliance goals, let’s chat! Give me a call today 732-258-1032. Here is your March 2020 Newsletter with a combination of HR and Health related news. I hope you enjoy!     Coronavirus Prompts More Companies...

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February 2020 Newsletter

Posted by on February 1, 2020 in Newsletters

Dear Valued Clients and Associates, February is a month of hearts, love and valentine’s; it also happens to be the month my Grandmother was born and this year, she’s celebrating 91! I’m excited to head to Maine in a couple weeks to see her and soak up all the love I can get from my family there. Speaking of love, how do you feel about your benefits broker? You may like your broker, but are they really servicing your organization and your employees the way they should be or are they just collecting their commission and not offering you value-add services? Do your employees have direct access to your broker for help with claims questions and adjudication or do your employees have to call the carrier directly? Do they provide you with access to HR and compliance tools? Does your broker include an online benefits administration option? Does your...

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2020 – New Rules for Salaries and Wages

Posted by on January 3, 2020 in Human Resources

2020 – New Rules for Salaries and Wages By Maggie Johnson     As we start the new year, there are a number of changes in employment law affecting the payment of salaries and wages by New York and New Jersey employers. Here’s an overview of the new regulations. Overtime Exemptions The US Department of Labor has issued a final rule for overtime exemptions effective January 1, 2020. The salary test under federal law for exemption from the Fair Labor Standards Act (FLSA) now requires a minimum salary of $684 per week up from $485 per week. Under the highly compensated employee test, the minimum annual salary must be $107,432 increased from $100,000. Pre-Employment Salary History Questions Starting on January 1, 2020, employers in New Jersey are prohibited from requesting job applicants to answer questions about their current or previous salary or wages. There are exceptions for positions where...

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January 2020 Newsletter

Posted by on January 1, 2020 in Newsletters

Dear Valued Clients and Associates, Happy New Year and best wishes to you all for everything you strive for in 2020! While folks are wrapping up year end, preparing for tax deadlines and setting goals for the new year, my goal is to make your life easier. With that said, what better way to kick off the new year than with a reminder of some compliance updates for 2020! Read on for some changes to be aware of this year. Did you know PF Compass has held a 98% retention rate for over 20 years? If you’d like to learn how we can help you reach your employee benefits and compliance goals, let’s chat! Give me a call today 732-258-1032. Here is your January 2020 Newsletter with a combination of HR and Health related news. I hope you enjoy!     2020 – New Rules for Salaries and Wages...

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December 2019 Newsletter

Posted by on December 1, 2019 in Newsletters

Dear Valued Clients and Associates, Happy Holidays!! This November and December have been a couple of the busiest, most exciting months of my career. With multiple new plans implemented for 2020 and so many wonderful opportunities to volunteer, meet new people and help so many organizations, I’ll be headed home to Maine for a couple days at Christmas with a heart full of gratitude. If you’d like to learn how we can help you reach your benefit and compliance goals, let’s chat! Give me a call today 732-258-1032. Here is your December 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy! From all of us at PF Compass – We wish you a wonderful Holiday Season!     Getting Ready for Winter – Developing Your Inclement Weather Policy By Maggie Johnson, HR Consultant Winter will soon be here with all of the snowstorms,...

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Getting Ready for Winter – Developing Your Inclement Weather Policy

Posted by on November 26, 2019 in Human Resources

Getting Ready for Winter- Developing Your Inclement Weather Policy By Maggie Johnson     Winter will soon be here with all of the snowstorms, blizzards, and freezing weather that come with the season. Keeping a business running effectively during harsh weather can be challenging, but having an inclement weather policy can provide guidelines to employees about when they are expected to report to work and how they will be paid when stormy weather hits. Here are some things to consider when creating your inclement weather policy: Notifying Employees These days, we often receive accurate, advance weather reports. This allows us to plan if there is a predicted storm. Even though we are informed by various news media, it is advisable for employers to have an established notification system for employees to know whether the company will close or if there will be a delayed opening. One way to advise...

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Monthly Newsletter November 2019

Posted by on November 6, 2019 in Newsletters

Dear Valued Clients and Associates, With January rates finally available from the carriers, benefit strategy meetings are in full swing between employers and their brokers. Offering multiple medical plans coupled with ancillary and voluntary benefits may give you the edge in attracting and retaining top talent. To accomplish this, a smart employer contribution strategy is critical for your bottom line and we can help you find the balance! We’d love to learn about what is important to you and your organization and help you reach your benefit goals. If you’re open to a chat, give me a call today 732-258-1032. Here is your November 2019 Newsletter with a combination of HR and Health related news. I hope you enjoy! All the best to your success, Brandi Bowers     Employers Are Scaling Back Their Dependence On High-Deductible Health Plans By: Michelle Andrews for khn.org Everything old is new again....

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Monthly Newsletter October 2019

Posted by on October 10, 2019 in Newsletters

Dear Valued Clients and Associates, I just wrapped up 2.5 days at the Garden State SHRM conference in Atlantic City. I visited with some great vendors and attended some interesting break out sessions. The highlight for me was the closing Keynote speech by Dr. Richard Pimentel… and to think I considered leaving early… I’m so glad I stayed! Dr. Pimentel was inspiring. He told his story and shared gems of wisdom on leadership, character, the power of having someone believe in you, response-ability and chasing your dreams… all with an incredible sense of humor that had the crowd in stitches. His words struck a chord and have provoked a lot of thought. Don’t change your dreams to fit your circumstances, change your circumstances to fit your dreams, he advised… and that is just what I did when I chose to join PF Compass. I wanted to have a bigger...

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Planning for Open Enrollment

Posted by on October 1, 2019 in Human Resources

Planning for Open Enrollment By Maggie Johnson     As we go into the fall, most companies will begin the process for Open Enrollment. Open Enrollment for many employers will be held in November and sometimes into December of 2019 for the 2020 plan year. To ensure your Open Enrollment goes smoothly, here are some suggested tips. Employee’s Share of Premium Most employees share the cost of the premium for health insurance coverage with their employer. For 2020, it is predicted by the Mercer National Survey of Employer-Sponsored Health Plans that the total health benefits costs per employee will increase by 3.9%. According to AON Consultancy’s 2020 Global Medical Trend Rates Report, healthcare benefit cost is expected to rise by 6.5% in the US. However, whether a health insurance plan is self-insured or fully-insured, the company’s claims experience is normally reflected in that company’s healthcare premium rates, and may...

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Monthly Newsletter September 2019

Posted by on September 13, 2019 in Newsletters

Dear Valued Clients and Associates, All things fall are on their way – the kids are back in school, pumpkin spice lovers have their coffee and beer back in season, temps are dropping and the leaves are starting to change to the beautiful orange, yellow and red that make autumn picturesque. Many folks are starting to shift gears in preparation for third quarter and year end activities. Vendor evaluations for new year transitions and upgrades are under way, or at least, they should be soon. This is a great time to take a look at the benefits you are offering your workforce – are you and your employees getting the best bang for the buck on your health insurance policies? And when was the last time you benchmarked your 401k? We can help – no strings attached. We’d love to come meet you, learn about what is important to...

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